SpaceX is reportedly moving toward an IPO on June 12, 2026, with the share price fixed at $135. According to the source material, the company plans to sell 555.6 million shares, raising $75 billion. The structure stands out because the price was set before investor meetings, skipping the usual IPO range-setting process.
A fixed-price IPO with limited room to negotiate
The report says the roadshow begins this week, yet the offer price has already been locked in. Legal expert Weiheng Chen described the setup as a “take-it-or-leave-it approach.” SpaceX is expected to list on Nasdaq under the ticker SPCX, with Goldman Sachs, Morgan Stanley, BofA Securities, Citigroup, and JPMorgan leading the deal.
One unusual feature is the retail allocation. Up to 30% of the offering is said to be reserved for individual investors instead of being concentrated almost entirely in institutional hands. The material also says Musk must hold his shares for 366 days after the listing, which adds a lock-up signal rarely highlighted this prominently.
Valuation sits far above many traditional benchmarks
At $135 per share, the proposed 2026 valuation comes to about $1.75 trillion. The figures cited in the source show Q1 2026 revenue of $4.69 billion and full-year 2025 revenue of $18.67 billion. On that basis, the company would trade at roughly 93.7x trailing revenue.
The article compares that multiple with Rocket Lab at 118x revenue, Palantir at 81x, and Tesla at 17x. Morningstar’s valuation estimate is listed at $780 billion, about 55% below the proposed IPO level. That gap puts attention on how much investors are willing to pay for long-duration growth rather than current earnings.
Starlink makes money while other units remain loss-making
The source describes Starlink as the crown jewel and the only segment generating real profit today. Other business lines are still consuming cash. SpaceX reportedly posted a net loss of $4.94 billion in 2025, compared with a $791 million profit the year before, marking a sharp swing in bottom-line performance.
The valuation case rests on future businesses the company believes could become enormous, including solar-powered AI data centers in space, Mars colonization infrastructure, and an estimated $28.5 trillion total addressable market. The material also says SpaceX merged earlier in June 2026 with Musk’s AI startup xAI, which was valued at $250 billion. Filing details cited in the report show a dual-class share structure, leaving most voting control with Musk and a small group of insiders.
Pre-market contracts appear before the listing
Before the stock begins trading, Bitget and MEXC have already listed SpaceX pre-market contracts, according to the source. The same report notes that these products carry substantial risk and are not the same as owning actual shares. It also cites a speculative view that SPCX could open between $145 and $165 on debut, while a weaker post-listing stretch could pull it back to $110 to $125 within 90 days. The original article labels that pricing view as speculation rather than investment advice.